More ETF shares were redeemed than issued in May,
according to the Investment Company Institute (ICI),
leaving a deficit of $248 million in net issuance. Gross
issuance for May was $4.049 billion, down from April?s
$5.595 billion.

Sector Slump

Broad-based domestic equity ETF assets fell to $63.763
billion at the end of May, from an April total of $64.717
billion while domestic sector/industry funds were up
slightly to $7,091 billion, from $6,696 billion in
April.

Statistics contained in the monthly ETF report have been
obtained from information provided to ICI by
exchange-traded funds. Trust-issued receipts, such as
Holding Company Depository Receipts (HOLDRS), are not
included in the report because registered investment
companies do not issue them.